At the 2026 Boao Real Estate Investment Conference held in Hainan on the morning of August 13, Huarun Youchao REIT's asset management head, Xu Huan, revealed that the company has successfully completed the country's first non-selective capital increase for a rental housing REIT, marking a significant institutional innovation for the sector.

Xu Huan noted that all six previous REIT capital increases in the market were conducted through a selective placement model, limited to 35 specific investors. In contrast, Huarun Youchao introduced a non-selective approach, offering new shares to existing unitholders on a pro-rata basis, allowing them to decide independently whether to participate.

The pricing for this capital increase was market-driven, based on the secondary market trading price and the project's intrinsic value, ultimately set at approximately a 20% discount. This ensured existing holders maintained their priority subscription rights while also validating the fair market value of the newly acquired assets.

The entire process, from the submission to the China Securities Regulatory Commission on September 17, 2025, to the listing on the Shanghai Stock Exchange on January 12, 2026, took less than four months. This milestone signals that rental housing REITs in China have officially entered a phase of regular and normalized capital expansions.